Unmet Needs of Generation Y

Topics: Generation Y, Demographics, Employment Pages: 13 (5092 words) Published: November 22, 2011
Born in the mid-1980's and later, Generation Y employees are in their 20s and are just entering the workforce. With numbers estimated as high as 70 million, Generation Y (also known as the Millennials) is the fastest growing segment of today’s workforce. As companies and firms compete for available talent, employers cannot ignore the needs, desires and attitudes of this vast generation. We have identified five different unmet needs faced by Generation Y after many interviews. They are mainly materialism, the inability to approach supervisors easily, inflexible working hours, presence of a communication barrier between older and younger generation and no sense of belonging. Our interview questions was carefully constructed using the SPICE framework and as a result, have garnered ideal results. After conducting the interviews, we researched the different needs and found solutions. Our next step was to link the solutions to the POEMS framework. Lastly, we have identified the HR functions that can be used in a company to solve the unmet needs. Interview Questions

1.What is your age? (Identity)
2.Are you working? (Social)
3.If yes, describe your job and what attracts you to work there? (Identity) 4.If no, what did you work as previously? And what is your reason for leaving? (Identity) 5.If you could change one aspect of your job, what would it be? E.g Increase pay, more benefits etc. (Emotional and Physical) 6.How did you get the job? (Physical)

7.Does your job allow you enough time with family/friends? (Social) 8.Do you use technology in your workplace? E.g. laptops , softwares, machinery etc. (Physical) 9.Do you feel a sense of belonging in your company? (Identity) 10.Do you bond well with your colleagues? (Communication)

11.Are you able to approach your supervisor/manager easily? (Communication) 12.Do you feel stressed when you are working? (Emotional)
13.If yes, do you have anyone to talk to about this in your workplace? (Emotional)

1) Materialism in Gen Y
Our first identified unmet need is materialism in Gen Y. Materialism is commonly defined as a preoccupation with or stress upon material rather than intellectual or spiritual things. This is a phenomenon that has exploded with the coming of the Gen Y population. This is not to say that materialism was never present before Gen Y but has instead increased due to various reasons. One reason why Gen Y is so steeped in materialistic tendencies is due to consumerism. Nowadays, marketing efforts are being aimed at kids to make them more materialistic in order to bring in more sales. Results from various studies suggest marketing efforts aimed at youngsters may indeed be robbing children of their childhood and making kids more materialistic, and it can have long-term negative consequences on shaping values. Another reason why Gen Y is becoming increasingly materialistic is due to a lack of self-esteem. Recent studies have shown a direct link in materialism in Gen Y and a direct correlation to their self-esteem. Between the ages of 12 and 13 children try to compensate for low self-esteem through material goods that they think will make themselves feel better, or that they think will raise their status among their peers. This reason is further compounded by itself, as many problems may arise and often do when young people embrace this culture of materialism. Lacking the means to acquire the much-valued material things, some individuals develop low self-esteem. This is particularly true of those of younger age. Research indicates that there is a direct correlation between low self-esteem and materialism: as self-esteem decreases, materialism increases. Additionally, there are those who, also lacking the means to acquire the desired material belongings, turn to illegal activities to procure the funds to satisfy their unhealthy materialistic tendencies. The unhealthy desire for material possessions and the illicit...
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